By Andalib Akhter
Prime Minister Narendra Modi today said that India’s GDP is growing at eight per cent and the day is not far when it will become third largest economy globally. Addressing the inaugural session of ‘Journey Towards Viksit Bharat: A Post Union Budget 2024-25 Conference’ in New Delhi, Mr. Modi said, India has reached new highs even after battling pandemic. He said, Government is focusing on all sectors.
The Prime Minister said, the speed and scale at which the government is building infrastructure is unprecedented. He said that capital expenditure is called the biggest productive medium of resource investment. Mr Modi said, in 2004, in the first budget of the UPA government, Capital expenditure was around 90 thousand crore rupees and it increased to two lakh crore rupees in 2014. He said, but now the CapEx is more than 11 lakh crore rupees.
The Prime Minister said the budget size has now increased three times to 48 lakh crore rupees. He said the government has made a record increase in allocation of Ministries. Mr Modi said, India is the only country with high growth and low inflation. He said, as many as 25 crore people lifted out of poverty in the last 10 years. The Prime Minister said the government has given special focus on ease of living, skill development, and employment. He said, a special focus is also on MSMEs which generate employment. He added that the Government is ensuring Ease of Living and Quality of Life for all its citizens. Mr Modi said, today India’s policy, dedication, determination, and decisions are attracting the whole world to invest in the country. He said, India is a beacon of growth and stability. The Prime Minister said, his government has clear intent and commitment and it is working with full focus on Viksit Bharat.
The day-long Conference is being organised by the Confederation of Indian Industry (CII) and is aimed at presenting the outline for the Government’s larger vision for growth and the industry’s role in this endeavour. More than one thousand participants from Industry, Government, the Diplomatic community, and Think tanks among others attending the conference in person while many are connected from the various CII centres across the country and overseas.